Armistice Capital LLC Buys 600,000 Shares of Arvinas, Inc. $ARVN

Armistice Capital LLC boosted its stake in shares of Arvinas, Inc. (NASDAQ:ARVN) by 50.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,800,000 shares of the company’s stock after purchasing an additional 600,000 shares during the quarter. Armistice Capital LLC’s holdings in Arvinas were worth $21,348,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new stake in Arvinas in the 1st quarter worth $727,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Arvinas during the first quarter valued at about $301,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Arvinas by 5.8% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 38,636 shares of the company’s stock valued at $271,000 after buying an additional 2,122 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Arvinas by 208.4% in the first quarter. Millennium Management LLC now owns 1,310,326 shares of the company’s stock valued at $9,198,000 after buying an additional 885,483 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Arvinas by 108.3% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 902,925 shares of the company’s stock worth $6,339,000 after buying an additional 469,394 shares in the last quarter. 95.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on ARVN shares. Barclays upped their price target on Arvinas from $18.00 to $20.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. BTIG Research lifted their price objective on Arvinas from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Wednesday, May 13th. Citigroup boosted their price objective on Arvinas from $21.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, May 4th. Zacks Research upgraded Arvinas from a “strong sell” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Stephens reaffirmed an “overweight” rating and issued a $18.00 target price on shares of Arvinas in a research report on Wednesday, June 3rd. Eight equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $15.42.

Arvinas Stock Up 3.4%

NASDAQ:ARVN opened at $7.67 on Thursday. The firm has a market capitalization of $494.87 million, a PE ratio of -2.31 and a beta of 1.74. Arvinas, Inc. has a 12-month low of $6.05 and a 12-month high of $14.51. The firm has a 50-day moving average price of $9.37 and a 200 day moving average price of $11.25.

Arvinas (NASDAQ:ARVN) last released its quarterly earnings data on Monday, May 11th. The company reported ($0.90) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.95) by $0.05. Arvinas had a negative return on equity of 44.38% and a negative net margin of 247.54%.The company had revenue of $15.60 million for the quarter, compared to the consensus estimate of $16.61 million. During the same period in the previous year, the business earned $1.14 earnings per share. The company’s quarterly revenue was down 91.7% on a year-over-year basis. On average, research analysts expect that Arvinas, Inc. will post -2.82 EPS for the current year.

Insider Activity at Arvinas

In related news, CFO Andrew Saik sold 11,139 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $9.94, for a total value of $110,721.66. Following the sale, the chief financial officer owned 193,128 shares of the company’s stock, valued at $1,919,692.32. The trade was a 5.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Noah Berkowitz sold 11,108 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $9.94, for a total value of $110,413.52. Following the completion of the sale, the insider owned 191,395 shares in the company, valued at $1,902,466.30. This trade represents a 5.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 36,032 shares of company stock valued at $356,170 in the last 90 days. 7.30% of the stock is owned by corporate insiders.

About Arvinas

Arvinas, Inc (NASDAQ: ARVN) is a biopharmaceutical company focused on the development of therapies based on targeted protein degradation. Utilizing its proprietary proteolysis-targeting chimera (PROTAC®) platform, Arvinas aims to selectively eliminate disease-causing proteins rather than merely inhibit their activity. This novel approach has the potential to address a range of diseases, including oncology, neurodegeneration and inflammation, by harnessing the body’s natural protein-recycling systems.

The company’s most advanced clinical candidates address hormone-driven cancers.